London, 27 December 2016 -- Moody's today affirmed the ratings of Credit Suisse AG (A1 senior debt, A1 deposits, baa2 Baseline Credit Assessment) following Credit Suisse's announcement of a settlement in principle with the U.S. Department of Justice (DOJ) regarding civil claims in connection with the bank's issuance and underwriting of residential mortgage-backed securities (RMBS) conducted through 2007. Under the agreement, Credit Suisse has agreed to pay a civil monetary penalty of USD2.48 billion and to provide USD2.8 billion in consumer relief to be delivered over the course of five years post settlement. The outlook on Credit Suisse's debt and deposit ratings is stable.

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